Merchantrade Asia has collaborated with NPCI International (NIPL) to offer real-time payments to India. This will help Merchantrade, a leading fintech company and Malaysia’s largest Money Services Business operator, to connect with NIPL and facilitate remittance to Indian Banks via UPI.
Existing mode of remittance processing
Up until now, remittances are processed via payment modes such as NEFT/RTGS/IMPS. However, with this collaboration, Merchantrade network countries can do real-time remittance to India using UPI. It includes BHIM, Google Pay, Amazon Pay, etc. This will facilitate all the required compliance checks safely and securely.
Both entities are optimistic regarding the road ahead
CEO of NIPL, Ritesh Shukla said, “Our partnership with Merchantrade will enable customers to enjoy greater efficiency, speed, convenience, and transparency through UPI platform’s real-time capabilities, accessibility, and simple interface.”
Founder and MD of Merchantrade Asia Ramaswamy K Veeran said, “Working with NPCI International will enable our customers and partners to transfer funds more easily to India. Such partnerships serve our ever-growing customer base and positively impact their daily lives.”